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NetSol Tech Smashes Q3 Records, AI-Driven Growth Ahead
Description
NetSol Technologies smashes third quarter records with $19.8 million net revenue, up 13% from last year, marking highest quarterly haul in company history. Recurring subscription and support revenue jumps 11.7% to $8.8 million. Operating income hits $3 million, and non-GAAP adjusted EBITDA climbs to $3.4 million. Key wins include Northridge Finance, Ford China auto captive, and Investec Bank renewal. Transcend Retail gains traction in US with BMW dealerships. Analysts praise revenue and margin gains, management confirms sustainability. New CFO notes strong underlying demand, cash at $14.7 million despite tax hit in Pakistan. Full-year guidance of $73-74 million revenue, driven by AI-embedded tools and US expansion.
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